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MARCH NETWORKS EVIDENCE REVIEWER GUIDE MANUALS
MARCH NETWORKS EVIDENCE REVIEWER GUIDE CODE
MARCH NETWORKS EVIDENCE REVIEWER GUIDE PROFESSIONAL

Which the users of services put him to Which he puts himself to.

MARCH NETWORKS EVIDENCE REVIEWER GUIDE PROFESSIONAL

USE OF PROFESSIONAL SKILLS For a professional, life is a long series of tests. Naresh Chandra Committee felt need to establish an efficient and professional body to provide transparent and expeditious quality oversight, in the interest of Investors, General public and Professionals. Widening gap between expectations and performance. Statement envisages maintenance and enhancement of quality of attestation services and adherence to standards issued by the institute. INSTITUTE’S INITIATIVES Released statement on Peer Review to meet the demands of greater transparency and consistency.ICAI has initiated Peer Review so as to meet the demand of high quality assurance, consistency and greater transparency in the services rendered by CAs.

MARCH NETWORKS EVIDENCE REVIEWER GUIDE MANUALS

8 Peer review board set up in 2002 has brought out Peer Review manuals providing guidance and insight of various aspects in view of the audit.elevating the Quality of services rendered by chartered accountants.

The intention of Peer Review is to the auditors on the independent review of provide value addition for further financial statements and records has been questioned quite often.

The credibility of the opinion expressed by.To ensure that such a member has in place proper system (including documentation system) for maintaining high quality of attestations services performed by him To ensure adherence to various statutory and other regulatory requirements & To enhance the reliance placed by the users of financial statements for economic decision making.Ħ INTENTION OF PEER REVIEW 7 INDIAN PERSPECTIVE 5 OBJECTIVES OF PEER REVIEW To ensure that members while performing attestation services comply with technical standards laid down by the Institute. Implementation of Sarbanes – Oxley Act, 2002 and the constitution of Public Companies Accounting Oversight Board have focused on installing more robust mechanism to instill confidence of the society in the accountancy profession. Pit put forward a two pronged approach, including overhauling of disciplinary mechanism and quality control aspects. In the wake of Enron debacle, then Chairman, SEC Harvey L. 3 ORIGIN OF CONCEPT In the US in mid-seventies by AICPA, Peer Review was acknowledged as single most important selfregulatory initiative by Securities and Exchange Commission It is conducted once in three years Two types of reviews – Committee appointed review and – Firm-on-Firm review.

MARCH NETWORKS EVIDENCE REVIEWER GUIDE CODE

Confirmation is needed that the narrow path that they are following is the one which others like them subject themselves to with the same code of ethics and behavior with firmness of values which support his stance.

Even the best of professionals need and deserve the approbation of their abilities.

Peer Review A person of similar standing Conduct of re-examination or retrospective evaluation of the subject matter As per the statement of Peer Review as issued by the ICAI, “A Peer Review means an examination and review of the systems and procedures to determine whether they have been put in place by the practice unit for ensuring the quality of attestation services as envisaged and implied/mandated by the Technical Standards and whether these were effective or not during the period under review”.

Peer Review deals with examination and review of systems and procedures to determine whether the systems and procedures are: In existence Effective Operating continuously during the period under review.